June futures on the S&P TSX index were up 0.33 percent at 7:15 a.m. ET.

Investors will watch out for the Bank of Canada’s interest rate decision scheduled at 10:00 a.m. ET. The central bank is expected to hold rates steady at 1.25 percent, but firmer price and wage inflation will prompt two increases in the second half of 2018, according to a Reuters poll.

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Bank of Montreal on Wednesday reported second-quarter results which were ahead of market expectations, driven by strong performances at its retail and wealth management businesses in Canada and the United States.

More than 3,000 locomotive engineers and conductors at Canadian Pacific Railway have gone on strike on Tuesday night, trade union Teamsters Canada said in a statement.